Thread regarding GlobalFoundries layoffs

Yes, the new HR head came out clueless and totally unimpressive.

New GF moto, "come for BS, stay for the severance package"

Promotions and raises delayed from April to July

No promotions and no raises …. All delayed till further notice or ?? It’s just delayed 6 months ???

How does the director of communications still have a job when she said she is not good at breaking the ice after Tom asked her to when that is her job as chief communications officer ?!

1hta+1k0K47km
TC ‘s lies are not enough to keep moving, so why won't he postpone some of his 1% of IPO CAP package, at oresent stock prices amounts for ~$350M USD? Be the real Leader for once!

Didn’t TC say we are in a niche section of semicon business … and we are special ?? Apparently not

@1van+1k0K47km
Try going to the layoff site for Intel and get clued in a little bit. Intel is the best in the industry when it comes to layoffs. This industry is all about management by layoff because the HR and management teams can never come up with any real solutions other than making people unstable by layoffs, outsourcing our jobs, and offshoring our jobs for CHEAP and UNREGULATED labor-good ol' American Greed. Whatever gets record and exponential bonus money to the corporate creeps is the way they roll.

Globalfoundries is where careers go to die.

Should be the GF motto

@1hta+1k0K47km

Correct. The only ones I have heard laying off in our ninche of the world is us! Globalfoundries only one. In fact I know Intel, Samsung etc are hiring! Because many have left here for them!

Let us not confuse industry layoff with our sh-t GF layoff. This is showing that TC ‘s lies are not enough to keep moving. This is rotten place and am sure GF will crash and die on its own as this pivot will create the chain reaction to sway all the remaining good ones out of GF. I know all my peers are already polishing resume and we do not care if we are in this lay off or not. We are done with this place. This is not a place to build career.

I was personally frustrated when TC and team of cowards did not answer even a single question clearly.

BigPivot prediction is 99 people exactly. All ded wood who were never Pivot material.

Earlier press said 200mil - so expect more than one round of this is only 100mil.

They said in this action they are saving only one hundred million a year (and unknown if this action includes Germany which is first half of next year))

800 for 2022 and expecting another 1200 in 2023.

A good reference is last massive layoff in 2018. They said it is 5%, but look at how many people in Malta left. The entire Admin2 was empty. You can pick whatever chairs or monitors you like and sit anywhere close to the parking lot. The 5% is not count for any visa worker or green card holder. They are not protected by ny laws.

It will be over closer to 1600 after everyone decides just to leave this s@@t-show of a company and there was no real statement about how many will go from DRS.
TC definitely left door open for more job cuts if "things don't go to plan" - that really is a bitter pill we will all have to be prepared to swallow.
Also numbers don't add up, press release said 200mil in savings to shareholders - did anyone catch what number they expect to save through staffing?

Why do you think over 1000?

agreed it will be over 1000 instead of 700-800 mentioned in media

This is not at all mandated by the government. I couldn’t believe how Tom was in the all hands even after practicing and not introducing the new hr person. So different than the pivot one. They really make it seem like there will likely be more layoffs